GBP/USD Weekly Special Report based on 1.00 Lot Calculation:
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US INFLATION RATE (CPI) (OCTOBER) (WEDNESDAY, NOVEMBER 13 AT 13:30 GMT). The US is slated to report its CPI figure for the month of October. The top-line CPI for September came in at 2.4%. Should CPI come in below this number the FED will most likely need to keep cutting rates, could keep the dollar under negative pressure.
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FED CHAIR JEROME POWEL SPEECH (THURSDAY, NOVEMBER 14 AT 20:00 GMT). Fed Chair Jerome Powell will give a speech about monetary police of the FED regarding the interest rate policy. Investors are pricing in a 60% chance for a Federal Reserve rate cut in December. This cut could put the US dollar under negative pressure.
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UK GROSS DOMESTIC PRODUCT (GDP) (Q3) (FRIDAY, NOVEMBER 15 AT 07:00 GMT): Data is expected to show economic growth in Q3 of 0.1%, compared to the 0.7% growth rate in Q2. If data comes in higher than expected, the pair GBP/USD could rise in value.
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US RETAIL SALES (OCTOBER) (FRIDAY, NOVEMBER 15, AT 13:30 GMT). Headline Retail Sales for October is expected to show an increase of 0.3% on monthly basis, which would be down from September’s 0.4% increase. Core Retail Sales is expected to show an increase of 0.3%, compared with the September’s 0.5% increase. Falling retail sales activity is a negative signal for the US economy, which could the US dollar under negative pressure, while the GBP/USD could see upward pressure.
GBPUSD, NOVEMBER 13, 2024
Current Price: 1.2720
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GBP/USD |
Weekly |
|
Trend direction |
|
|
1.3130 |
|
|
1.2990 |
|
|
1.2840 |
|
|
1.2610 |
|
|
1.2570 |
|
|
1.2540 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
GBP/USD |
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Pivot Points |
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|
Profit or loss in $ |
4,100.00 |
2,700.00 |
1,200.00 |
-1,100.00 |
-1,500.00 |
-1,800.00 |
|
Profit or loss in €² |
3,864.37 |
2,544.83 |
1,131.04 |
-1,036.78 |
-1,413.79 |
-1,696.55 |
|
Profit or loss in £² |
3,218.77 |
2,119.68 |
942.08 |
-863.57 |
-1,177.60 |
-1,413.12 |
|
Profit or loss in C$² |
5,721.65 |
3,767.92 |
1,674.63 |
-1,535.08 |
-2,093.29 |
-2,511.95 |
- 1.00 lot is equivalent of 100.000 units
- Calculations for exchange rate used as of 10:50 (GMT) 13/11/2024
There is a possibility to use Stop-Loss and Take-Profit.
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You may wish to consider closing your position in profit, even if it is lower than suggested one.
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Trailing stop technique could protect the profit.